Concentration Here & There

Much ink has been spilled on the Magnificent-7 stocks’ outsized influence over the S&P 500’s performance given the group’s huge share of the index’s capitalization. Are other stock markets of the world similarly weighed down (or buoyed up) by a few corporate behemoths? … That is the case for several stock markets in Asia, William reports, but not Japan’s. … Melissa discusses the European Union’s “steady giants,” which weigh in collectively at a hefty one-fifth of the EU MSCI’s capitalization and actually have outperformed the Mag-7 since 2022. … And Joe shares data on the Mag-7’s fluctuating share of the S&P 500’s capitalization in recent months.